High Arctic Energy Services Inc T.HWO

Alternate Symbol(s): HGHAF

Energy Oil & Gas Equipment & Services

High Arctic Energy Services Inc. is a Canada-based energy services provider. It provides drilling and specializes well completion services and supplies rental equipment, including rig matting, camps, material handling, and drilling support equipment. In western Canada, it provides pressure control equipment on a rental basis to a number of exploration and production companies. Its North American service lines include nitrogen and oilfield rental equipment. Its fleet of pumper units operate onsite to deliver nitrogen to the oil and gas industry when and where required. Its International Operations service lines include drilling rigs, workover rigs, worksite matting and rental equipment. Its fleet of specialized rental equipment includes camps, cranes, trucks, forklifts, pumps, gensets and lighting towers. It is also focused on offering pressure control equipment and equipment supporting the high-pressure stimulation of oil and gas wells, along with other well site rental equipment.

TSX:HWO - Post by User

High Arctic Energy Services Inc > Very interesting

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Comment by Possibleidiot01on Aug 04, 2023 7:02am

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Post# 35572684

RE:RE:Very interesting

There are two words in here that stick out for me .

First word "IF"

If the reorganization proceeds, it is expected to result in:

The payout to shareholders of $38.2 million, equivalent to approximately $0.75 per fully diluted share, by way of tax efficient return of capital distribution,
The sale of High Arctic International to existing shareholders who opt to participate through issuance by the Corporation of a right for shareholders to purchase from the Corporation one (1) ordinary share of High Arctic Energy Services Cyprus Limited (a wholly owned subsidiary of High Arctic immediately prior to the Reorganization) for each common share held in High Arctic,
A shareholder election process whereby shareholders can:
- Do nothing, and receive their return of capital distribution as cash;
- Elect to exercise their purchase rights (in full or in part);
- Elect to use some or all of the funds to be received pursuant to the return of capital, toward the exercise of purchase rights; and
Second word is "Elect" ; not sure how to intrepret ( happy not to have to anymore) - seems like High Arctic Energy Services Cyprus Ltd. is not a free distribution?
75 cents minus whatever.